Find out more about Papaya Global Payroll And Tsheets ... We now have the ability to manage both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has gotten a different Chief Financial Officer specifically devoted to managing payments. This supplies us with a secure and dependable approach of making payments to our 10,000 employees worldwide.}
The advanced global payroll management app improves my payroll process, conserving me a substantial amount of time each month. With its user-friendly user interface, I have access to a single control panel that efficiently handles my payroll, EOR, and professionals.
The Worker Portal supplies staff members with the capability to access and view essential documents such as pay slips, wage and tax declarations, and work records. This website is accessible on both desktop and mobile phones and is used in different languages.
Benefits Administration
Papaya Global helps business use competitive benefits packages to international workers no matter the number of staff members in the business. The company can set up health insurance, short-term and long-term disability, vision, dental and maternity leave while getting rid of the need to source local advantages providers in every nation, create local accounts and have a minimum number of workers.
The HR capabilities supplied by Global HR include numerous functions such as keeping track of holiday time, making sure compliance, facilitating the procedure of inviting brand-new employees and bidding goodbye to leaving ones, using a safe and secure online platform for saving employees' documents, and offering assistance for work permit procedures in case your workers require assistance because location.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force spending, labor force diversity, total employment expenses distributed per place, total work expenses per cycle and much more.
environments across the globe I supplied management and method to populations of over a hundred thousand employees in more than 170 countries today I'm the payroll techniques for as Mark said I work throughout the business managing and structure external relationships supporting Business clients and solutions as well as serving as a consultant for those of you that don't know who papaya Global is papaya is the first payroll and payments
As a global company, we are honored to be included on the distinguished Time 100 list of the most prominent business worldwide. We focus on offering payroll and labor force management services to staff members in more than 160 countries. I am delighted to introduce Johnny Nash, as mentioned by Mark. Now, I'll let Johnny introduce himself. Good day to all, despite your location. It's an enjoyment to satisfy you and thank you for your important time. As Ian mentioned, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments market, I have actually concentrated on payroll and payment options for the past 7 years. The complexities and challenges of this field have always captivated me.
payroll payments and decided to kind of make a genuine go at that over the last five or 6 years where I have actually kind of had a range of various functions on the company side and also on the vendor side from a payroll perspective so actually eagerly anticipating this discussion today um and yeah thank you quite for your time everyone okay thanks Johnny uh we'll simply provide everybody another couple of uh well one of the 30 seconds or two to join all of us work back to back nowadays so we'll type of let them do that so it 'd be rather intriguing and I can see it going on currently just to hear where everybody is um it's nice to to type of like see where everybody originates from and I truly do hope it's much sunnier than it remains in the UK today certainly not the peak of the sunlight is it it's not no it's it's raining here it's very extremely bleak and I want I was elsewhere at this moment in time alright so let's get started our agenda for today is as follows um we are going to be taking a look at the obstacle years of managing Global payroll why business maintain different
Virtual payroll accounts are an option to traditional savings account for managing payroll payments. This is particularly helpful for global organizations with dispersed and remote workforces, as it streamlines the intricate procedure of cross-border payments. Instead of maintaining separate checking account for payroll in various countries, virtual accounts and digital wallets offer a more streamlined service. In this webinar, we will explore the benefits of using virtual payroll accounts and talk about why they are becoming a tactical possession for payroll executives. We will likewise provide a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
Making sure precise, effective, and prompt payroll payments is a complex challenge for companies operating globally. Join us for a webinar to explore the advantages and drawbacks of payroll wallets versus payroll checking account, find out how companies anticipate payroll expenses to enhance working capital, and discover how improving global payroll payments can change them from a troublesome job into a strategic property.
Handling payroll worldwide is a complicated task due to various policies, compliance requirements, information security concerns, and banking rules. The sheer number of staff members and organizations adds to the complexity, with an estimated 3.5 billion people in the international workforce, 500 countless whom are in Africa, and 230 million businesses worldwide.
Conventional payroll systems frequently result in manual processes, information silos, and an absence of integration, causing inconsistencies and inadequacies. Despite living in a period of technological developments, payroll management has been slow to adapt, with as much as 25% of payroll still processed manually, typically utilizing pen and paper. This webinar aims to provide insights and solutions to simplify and enhance global payroll payments.
about it to give you an idea of how far there still is to come according to Deloitte just 11 of companies state they have Labor force data in real time that's another number that offers me sleepless nights and rather frankly the more a company spends on international payroll the less of an image they see a lack of exposure likewise reaches payroll payments and failure to properly track these payments can cause compliance mishaps in the last mile of the transaction almost half of global companies have actually expressed that they don't have the level of standardization they require in their processes or want and as a result eighty percent of mistakes are because of time reporting bad HCM information information entry mistakes poorly interacted hires and terminations along with lack management and system setups and after that when you round everything off and the information is shipped to the wrong location the typical expense of an international data breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the money around the world payroll and payments don't run efficiently if they count on the necessary several processes systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the obstacles business face when they're making payments to staff members or otherwise that's an excellent concern I constantly toss this back and say what is it what doesn't need to be included best and what does
it need to be thought about there's varying Bank information so the length of an eye band a swift an account number routing code per country there's payment timespan there's payment capabilities so can you pay it from International or do you have to pay from an in-country account do you have to pay from the consumer's own in-country account so there's intricacy anywhere you look ideal eventually building a knowledge base is absolutely crucial however all over you look with payroll payment they are like incredibly payments no if but some children about it you are all superheroes processing payments for payroll if you take a look at the kind of link between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are absolutely essential and innovation is enabling us to type of move forward with that it likewise as well to contribute to that payroll and financing require to work closer together um with varying Savings account Particulars varying banking requirements and setup procedures is absolutely crucial that payroll and financing groups work more detailed together than ever um I'm always surprised when people say I've divided payroll and payment um if you stroll down the street and asked anyone what is payroll who does not work in the payroll occupation would they divide the payroll payment from calculation I would say no so why do we as an industry accept that why our payroll and payments so typically split and cut up um eventually it's payroll is an end-to-end process it's the point of information collection all the way through to paying individuals wherever they are however also paying statutory authorities and on statutory 3rd parties so with the
world we reside in and wellness being increasingly more important to add to type of the level of intricacy there's more and more advantages being organ or being provided by organizations throughout the world so once again you're simply wanting to add a growing number of payments to this currently complex landscape so if you type of got any experience well I'm from your vast experience here and I make certain but have you got any experience in kind of real challenges or genuine tough type of pay uses to play to pay individuals I believe yeah I suggest over the last well yeah a couple of years I would certainly say that the bigger an organization gets the more it tends to segregate the payroll and the payments functions um there are teams doing one part of the task there are teams feeding info into the next function as it were that's really handling the payment side of things but you understand in in my opinion and my experience that does not necessarily require to be the case you know long gone are the times where we need to produce extra handoffs while doing sos that we operate in they simply make them more prompt they make them less efficient and they don't make them what they require to be in in an era of tech and an era that you know that we are operating in today there is no reason we are still making this as challenging as it needs to be concurred and rightly as you stated payroll is the single biggest liability that any service has from a cost perspective from an effect point of view on workers it is definitely critical that it's done correctly and on time so what we indicate by that is not a day before not a day after on pay day and payments have to be done right it has the most significant destructive effect on people's wellness and lots of other factors if people aren't paid uh I've constantly been astonished entering into this Market kind of the last 5 to ten years is how little thanks the
The payroll group may not have been thanked for correctly processing payroll during a webinar. If anybody has been thanked, it would be excellent to hear their success story, whether it's from all employees or not. Payroll is an important cycle, and people only observe when things fail. However, when things go right, it's viewed as simply a routine job. This is how it's viewed externally also. Therefore, it is essential to guarantee that tasks like Wi-Fi International and other essential matters are done properly. Utilizing the first Global Payments very first payroll payment option is a terrific initial step towards providing a comprehensive payroll option for employees worldwide. Standardization, worldwide procedures, and decreasing the variety of tools, platforms, and checking account needed for worldwide payroll are essential consider attaining organization success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do periodically receive a couple of complaints when things do not go as prepared. Ultimately, we don't do it for the thankfulness.
anyhow we know how how crucial a function it is which's why we do it that's why we get on with it and this is why we're talking today about making it as simple as possible for everyone that's involved in those procedures and also so envision sorry I'm simply I was just gon na say picture the quantity of thanks you got if you might cover the amount of people that we cover within this webinar I make certain we're talking about hundreds of thousands possibly Millions think of getting that many thank you notes um I suggest it 'd be interesting to see how many Post-it notes you got however it would absolutely be a fascinating task attempting to clean up all those up for sure oh absolutely I can't imagine the size of my my Outlook inbox if that held true um you 'd require days of the week to try to check out them and actually see what was going on and sort of shot to get back to everybody so moving on look why do business choose to main different savings account there are businesses out there doing precisely this for particular countries and I have actually operated in an organization or lots of services doing precisely that I can state it doesn't always feel efficient and it does create more work I understand we're not intentionally doing that we're not creating extra work for any person where we do not need to and anyone that's handling that procedure I 'd be interested to hear your thoughts Johnny why do you believe that we're doing that in in the in the quantity that we are I think many reasons one is it's the standard I think people have got so utilized to we require a new checking account we open an entity and appropriately so you need it for payroll purposes but there are a number of markets where it's not a requirement so I believe it's simply been the requirement and the norm the people have actually adopted and continue to do over years and years gone past to contribute to that people have actually looked at things like trust accounts and lots of other ways um to to kind of do it so I think there's a variety I think this is a process that requires looking at it needs altering but ultimately people are really stuck to what they recognize
with ideal um modification is a hard thing all of us don't like change um so I believe it's simply kind of moving far from the standard as we've said so yeah so it keeps a great deal of track of stuff um I comprehend undoubtedly the benefits of having preserving several savings account but there's a big amount of complexity opts for setting up a bank account keeping it ensuring it can send International transfers guaranteeing it's established with the right user accesses for individual individuals so the intricacy is huge but I believe the truthful answer is modification um individuals have not had the ability to change or have not had always the understanding to actually make that change into alternate Solutions aside from opening a checking account I think you have actually hit the nail on the head I think it is knowledge you understand and there is an element of resistance to alter but we've always done it that way is no real reason for not looking at the the advantages and the possibilities of moving on and moving into you understand what might practically be determined to be the next Century or two there is a lot to monitor and this technique does pose numerous challenges um so Johnny might you inform us about those difficulties yeah of course so there's a range right there is so
I just did you changed our Business to OS so now we can do our payroll and payments operation on a single platform yes it resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Worldwide workers you are worthy of a corner workplace with a better parking space because I mastered Worldwide payroll and payments with Papaya payroll OS did you
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